MARKHAM, ONTARIO–(Marketwired – March 13, 2017) – Intelligent Fabric Technologies (North America) Inc. (“IFTNA”), a wholly-owned subsidiary of iFabric Corp. (TSX:IFA), today announced the signing of an agreement with Strategic Partners (“SPI”). The agreement provides SPI with a license to use IFTNA’s textile technologies in future generations of medical apparel and footwear.
“IFTNA is excited to formalize its relationship with SPI, the market leader in healthcare apparel. This agreement represents our first significant foray into the medical apparel market,” said Giancarlo Beevis, President and CEO of IFTNA.
“IFTNA is known for its development of innovative fabric technologies focused on improving the wearer’s experience,” said a spokesman for SPI. “Their expertise dovetails perfectly with SPI’s mission to provide unique, state-of-the art products with uncompromising quality and outstanding value,” he added. “We look forward to working with IFTNA as we incorporate additional textile technologies into our medical apparel.”
ABOUT iFABRIC CORP.:
iFABRIC CORP. currently has 26.0 million shares issued and outstanding. iFABRIC is a manufacturer, distributor, licensor and licensee of ladies intimate apparel products, sleepwear and accessories, and also is a developer and distributor of proprietary innovative products and treatments that are suitable for application to textiles, plastics, liquids, and hard surfaces. These products are designed to provide added benefits to the user.
ABOUT SPI:
SPI is the industry leader in the design, manufacture and distribution of high-quality, fashion-inspired medical apparel, medical footwear and school uniforms.
FORWARD-LOOKING STATEMENTS
Forward-looking statements provide an opinion as to the effect of certain events and trends on the business. Certain statements contained in this news release constitute forward looking statements. The use of any words such as “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors. Forward-looking information includes, but is not limited to, statements with respect to the development potential of the Company’s products.
Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Readers are cautioned not to place undue reliance on these statements as the Company’s actual results, performance, or achievements may differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements if known or unknown risks, uncertainties or other factors affect the Company’s business, or if the Company’s estimates or assumptions prove inaccurate. Therefore, the Company cannot provide any assurance that forward-looking statements will materialize. The Company assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or any other reason except as required by applicable securities laws.
Any financial outlook or future oriented financial information in this news release, as defined by applicable securities legislation, has been approved by management of iFabric. Such financial outlook or future oriented financial information is provided for the purpose of providing information about management’s reasonable expectations as to the anticipated results of its proposed business activities. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The forward-looking statements contained in this press release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Neither the TSX Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Hilton Price
CFO
647 465-6161
hilton.price@rogers.com
iFabric Corp.
Gary Perkins
Investor Relations
416 882-0020
garyperkins@rogers.com